Loading...
Loading...
In a report published Monday, J.P. Morgan reiterated its Overweight rating on Mercadolibre
MELI, and raised its price target from $93.00 to $101.00.
J.P. Morgan noted, “We maintain MELI as an Overweight, increasing our price target to $101 for Dec-13, from $93 previously. We like MELI, as: (1) we expect LatAm internet growth to remain solid; (2) we see large growth potential in online purchases in LatAm; (3) we expect MELI to keep strong bottom-line growth (22% EPS CAGR'13E-15E) and cash generation; (4) company maintains a long-term focus, keeping prices low and investing in improvements to develop the market and protect against potential entrants.”
Mercadolibre closed on Friday at $85.59.
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in